London Daily

Focus on the big picture.
Saturday, Jul 19, 2025

Europe's richest man is joining the SPAC craze

Europe's richest man is joining the SPAC craze

Bernard Arnault, the chairman of luxury goods group LVMH (LVMHF), is the latest billionaire to embrace Wall Street's hot new way to raise money.
Arnault's investment holding company Financière Agache is joining forces with French asset manager Tikehau Capital and two high-profile European bankers to launch a special purpose acquisition company (SPAC) that will hunt for deals in Europe's financial services sector.

Tikehau Capital said in a statement on Monday that potential targets include asset management platforms, fintech firms, insurance services and diversified financial services companies. The focus will be on "scalable platforms offering strong profit growth potential," it added, indicating that this will be the first of several SPACs it plans to launch.

Jean-Pierre Mustier, the former CEO of Italian bank UniCredit (UNCFF), and Diego De Giorgi, a former head of global investment banking at Bank of America (BAC) Merrill Lynch, will be the operating partners of the company, Tikehau Capital said.

SPACs, or "blank-check" companies raise capital through an IPO to buy existing businesses. They were once an obscure part of the market but have exploded in popularity. Last year, 229 SPACs in the United States raised $76 billion, up from just $13 billion in 2019, according to Goldman Sachs. A spate of new filings this year — including from former San Francisco 49ers quarterback Colin Kaepernick and Rocket Internet co-founder Oliver Samwer — indicates the pace isn't letting up.

While European stock exchanges have so far largely missed out on the boom, there are early signs that the market is beginning to take off in the region.
Tikehau Capital did not provide details on the amount its SPAC is seeking to raise, saying only that the four sponsors plan to collectively invest at least 10% of that amount. Arnault has a net worth of $114 billion, making him the fourth richest person globally and the richest individual in Europe, according to the Bloomberg Billionaires Index.

The SPAC will IPO in Amsterdam, the latest in a series of wins for the Dutch city's exchange. Euronext Amsterdam is one of the biggest beneficiaries from changes that mean EU financial institutions cannot trade European shares on UK exchanges after Brexit.
Newsletter

Related Articles

0:00
0:00
Close
Brazil's Supreme Court Imposes Radical Restrictions on Former President Bolsonaro
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Judge Criticizes DOJ Over Secrecy in Dropping Charges Against Gang Leader
Apple Closes $16.5 Billion Tax Dispute With Ireland
Von der Leyen Faces Setback Over €2 Trillion EU Budget Proposal
UK and Germany Collaborate on Global Military Equipment Sales
Trump Plans Over 10% Tariffs on African and Caribbean Nations
Flying Taxi CEO Reclaims Billionaire Status After Stock Surge
Epstein Files Deepen Republican Party Divide
Zuckerberg Faces $8 Billion Privacy Lawsuit From Meta Shareholders
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
SpaceX Nears $400 Billion Valuation With New Share Sale
Microsoft, US Lab to Use AI for Faster Nuclear Plant Licensing
Trump Walks Back Talk of Firing Fed Chair Jerome Powell
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Irish Tech Worker Detained 100 days by US Authorities for Overstaying Visa
Dimon Warns on Fed Independence as Trump Administration Eyes Powell’s Succession
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Jeff Bezos Considers Purchasing Condé Nast as a Wedding Gift
Ghislaine Maxwell Says She’s Ready to Testify Before Congress on Epstein’s Criminal Empire
Bal des Pompiers: A Celebration of Community and Firefighter Culture in France
FBI Chief Kash Patel Denies Resignation Speculations Amid Epstein List Controversy
Air India Pilot’s Mental Health Records Under Scrutiny
Google Secures Windsurf AI Coding Team in $2.4 Billion Licence Deal
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
South African Police Minister Suspended Amid Organised Crime Allegations
Nvidia CEO Claims Chinese Military Reluctance to Use US AI Technology
Hong Kong Advances Digital Asset Strategy to Address Economic Challenges
Australia Rules Out Pre‑commitment of Troops, Reinforces Defence Posture Amid US‑China Tensions
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
U.S. Resumes Deportations to Third Countries After Supreme Court Ruling
Excavation Begins at Site of Mass Grave for Children at Former Irish Institution
Iranian President Reportedly Injured During Israeli Strike on Secret Facility
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Defends Attorney General Pam Bondi Amid Epstein Memo Backlash
Renault Shares Drop as CEO Luca de Meo Announces Departure Amid Reports of Move to Kering
Senior Aides for King Charles and Prince Harry Hold Secret Peace Summit
Anti‑Semitism ‘Normalised’ in Middle‑Class Britain, Says Commission Co‑Chair
King Charles Meets David Beckham at Chelsea Flower Show
If the Department is Really About Justice: Ghislaine Maxwell Should Be Freed Now
NYC Candidate Zohran Mamdani’s ‘Antifada’ Remarks Spark National Debate on Political Language and Economic Policy
President Trump Visits Flood-Ravaged Texas, Praises Community Strength and First Responders
From Mystery to Meltdown, Crisis Within the Trump Administration: Epstein Files Ignite A Deepening Rift at the Highest Levels of Government Reveals Chaos, Leaks, and Growing MAGA Backlash
Trump Slams Putin Over War Death Toll, Teases Major Russia Announcement
Reparations argument crushed
Rainmaker CEO Says Cloud Seeding Paused Before Deadly Texas Floods
×